Multi-function torque converters include an impeller clutch to non-rotatably connect an impeller to a cover for the torque converter, and a torque converter clutch to bypass a turbine. It is known to close the impeller clutch and then to close the torque converter clutch in series. For example, the same fluid circuit can be used to provide apply pressure to close both the impeller clutch and the torque converter clutch. However, this process reduces the pressure bandwidth for both clutches. Further, the torque converter clutch apply pressure for known multi-function torque converters can be higher than in a conventional torque converter when the impeller clutch apply pressure opposes the torque converter clutch apply pressure. As a result, there is a need for higher pressure in the circuit and increased pump capacity, and efficiency of the hydraulic system decreases. In addition, apply pressure must be maintained for the impeller clutch to keep the impeller clutch closed to maintain the function of the torque converter, further increasing the energy requirement for the hydraulic system.